Tall & Urban News

Developer Meriton Group has lodged plans with the City of Sydney for a dual-tower residential development at Sydney Olympic Park in Parramatta.

The company, headed by Harry Triguboff, has enlisted DKO for the scheme which will front Uhrig Road in Lidcombe.

The 2.4-hectare site currently holds approval for an existing application to build 450 apartments.

If realized, Meriton’s 55,000-square-meter development will comprise 655 apartments.

Meriton plans two towers of 46 and 42 stories respectively to rise from a four-level podium offering childcare and retail tenancies, as well as a swimming pool, gym and parking for 562 cars.

The development will mark the fifth and final stage of its Carter Street residential precinct.

Meriton has completed two residential projects across the island site fronting Carter Street and is currently constructing two further stages.

The developer recently moved to alter the precinct’s third project, converting its under construction hotel development at 11 Carter Street into residential apartments in response to the weakened tourism sector.

Meriton bought the site from Goodman Group’s large-scale Sydney Olympic Park in 2015 after Goodman began rezoning about AU$1 billion (US$770 million) of industrial property for residential uses in 2012.

Meriton’s purchase, with the initial potential to build up to 1,300 apartments, was the largest up to that time, at AU$250 million (US$191 million).

Meriton currently has 3750 apartments across NSW.

In January, Meriton snapped a site at 263-273 and 277-281 Pennant Hills Road in Carlingford, just north of Parramatta, after it was listed for sale in November by receivers acting on behalf of lenders of struggling Western Sydney developer Dyldam.

The site, which could support up to 700 apartments in a circa AU$600 million (US$459 million) development, is close to the proposed Carlingford Light Rail stop. It came to market with an existing permit for 450 apartments.

For more on this story, go to The Urban Developer.